ELOco
ActiveFinancials · financial year 2025, full format
2025 annual accounts filed 22 days after the deadline Filed on 22 March 2026, deadline 28 February 2026 (7 months after the close on 31 July 2025, Companies Code art. 3:10). Source: NBB, 2026-00061000.
Annual accounts 2025 filed on 22-03-2026 PDF all 10 filings
Turnover
≈ €1.1m
Estimated: probably between €830,000 and €1.9m
EBIT margin
Not included in this filing
Net result
€120,816▼ 80.6%
2024 · €623,883
Working capital
€571,940▲ 815%
2024 · €62,502
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€633,090
▲ 49.9%
2025
20192025
Net result
€120,816
▼ 80.6%
2025
middle half of the sector
20192025
Equity
€1.1m
▲ 12.0%
2025
middle half of the sector
20192025
Total assets
€9.8m
▲ 3.5%
2025
middle half of the sector
20192025
Debt
€1.5m
▲ 19.1%
2025
20192025
Working capital
€571,940
▲ 815%
2025
middle half of the sector
20192025
Solvency
11.5%
▲ 0.9pp
2025
lowest quarter of the sector
20192025
Current ratio
8.76
▲ 7.41
2025
highest quarter of the sector
20192025
Return on assets (ROA)
1.2%
▼ 5.4pp
2025
middle half of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€0.1m-€0.1m▲ 14.1%€0.2m▲ 68.2%€0.2m▼ 29.0%€0.2m▲ 11.4%€0.4m▲ 131%€0.6m▲ 49.9%
Net result€0.05m-€0.08mabove the sector's middle half▲ 39.6%€0.2mwithin the sector's middle half▲ 110%€0.08mwithin the sector's middle half▼ 53.1%€0.1mwithin the sector's middle half▲ 38.8%€0.6mabove the sector's middle half▲ 498%€0.1mwithin the sector's middle half▼ 80.6%
Equity€0.01m-€0.09mwithin the sector's middle half▲ 609%€0.2mwithin the sector's middle half▲ 180%€0.3mwithin the sector's middle half▲ 30.1%€0.4mwithin the sector's middle half▲ 18.3%€1.0mwithin the sector's middle half▲ 162%€1.1mwithin the sector's middle half▲ 12.0%
Total assets€1.9m-€2.0mabove the sector's middle half▲ 3.3%€2.6mwithin the sector's middle half▲ 29.8%€2.9mwithin the sector's middle half▲ 10.5%€2.8mwithin the sector's middle half▼ 1.6%€9.5mabove the sector's middle half▲ 238%€9.8mwithin the sector's middle half▲ 3.5%
Debt€1.2m-€1.2m▼ 0.9%€1.6m▲ 36.0%€1.8m▲ 12.1%€1.7m▼ 5.6%€1.2m▼ 29.5%€1.5m▲ 19.1%
Working capital-€0.08m-€0.02mwithin the sector's middle half-€0.3mbelow the sector's middle half-€0.1mwithin the sector's middle half▲ 68.2%-€0.2mbelow the sector's middle half▼ 57.0%€0.06mwithin the sector's middle half€0.6mwithin the sector's middle half▲ 815%
Solvency0.7%-4.5%below the sector's middle half▲ 3.8pp9.7%below the sector's middle half▲ 5.2pp11.4%below the sector's middle half▲ 1.7pp13.7%below the sector's middle half▲ 2.3pp10.6%below the sector's middle half▼ 3.1pp11.5%below the sector's middle half▲ 0.9pp
Current ratio0.10-1.20within the sector's middle half▲ 1.100.42below the sector's middle half▼ 0.780.24below the sector's middle half▼ 0.180.24below the sector's middle half=1.35within the sector's middle half▲ 1.118.76above the sector's middle half▲ 7.41
Return on assets (ROA)2.8%-3.8%within the sector's middle half▲ 1.0pp6.2%within the sector's middle half▲ 2.4pp2.6%within the sector's middle half▼ 3.6pp3.7%within the sector's middle half▲ 1.1pp6.6%within the sector's middle half▲ 2.9pp1.2%within the sector's middle half▼ 5.4pp
above
within
below
The sector band is the middle half of the companies in Activities of head offices; management consultancy activities (NACE 70). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 50% higher than in 2024 and the highest since 2019. It is the third rise in a row, after the fall in 2022.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €9.8m
Fixed assets
€9.2m ▼ 0.8%
Current assets
€645,604 ▲ 168%
Equity and liabilities €9.8m
Equity
€1.1m ▲ 12.0%
Provisions
€7.2m ▼ 0.2%
Debt
€1.5m ▲ 19.1%
Debt's share of the balance-sheet total rises from 12.9% to 14.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
€710,128▲
2024 · €499,207
Cash flow
€197,854▼
2024 · €700,852
Debt to equity
1.29▲
2024 · 1.21
ROE
10.7%▼
2024 · 61.9%
Interest coverage
1.44▲
2024 · 1.00
Debt ≤ 1 year
€73,664▼
2024 · €178,366
Debt > 1 year
€1.4m▲
2024 · €1.0m
Income taxes
€17,847▲
2024 · €1,309
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 31-07-2022 | 31-07-2023 | 31-07-2024 | 31-07-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €68,184 | €11,464 | - | €7,670 |
| Financial fixed assets | €499,645 | - | €6.6m | - |
| Depreciation and write-downs of the year | €89,599 | €76,112 | €76,969 | €77,038 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €63,132 | €64,380 | €66,309 | €89,599 | €76,112 | €76,969 | €77,038 | ▲ 0.1% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | -€2,276 | -€2,404 | - | -€18,013 | - |
| Other operating charges640/8 | - | - | - | €5,143 | €10,715 | €5,882 | €7,215 | ▲ 22.7% |
| Gross operating margin9900 | €187,344 | €201,327 | €302,128 | €256,395 | €267,054 | €505,089 | €699,330 | ▲ 38.5% |
| Operating profit (loss)9901 | €120,238 | €137,220 | €230,833 | €163,929 | €182,631 | €422,238 | €633,090 | ▲ 49.9% |
| Financial income75/76B | - | - | - | - | - | €700,000 | €64 | ▼ 100.0% |
| Recurring financial income75 | €1 | €1 | €9 | - | - | €700,000 | €64 | ▼ 100.0% |
| Financial charges65/66B | - | - | - | €68,911 | €61,807 | €497,046 | €494,490 | ▼ 0.5% |
| Recurring financial charges65 | €65,442 | €60,727 | €66,842 | €68,911 | €61,807 | €497,046 | €494,490 | ▼ 0.5% |
| Profit (loss) for the period before taxes9903 | €54,797 | €76,493 | €164,000 | €95,018 | €120,824 | €625,192 | €138,663 | ▼ 77.8% |
| Income taxes67/77 | - | - | €3,500 | €19,817 | €16,432 | €1,309 | €17,847 | ▲ 14× |
| Profit (loss) for the period9904 | €54,797 | €76,493 | €160,500 | €75,201 | €104,392 | €623,883 | €120,816 | ▼ 80.6% |
| Profit (loss) for the period to be appropriated9905 | €54,797 | €76,493 | €160,500 | €75,201 | €104,392 | €623,883 | €120,816 | ▼ 80.6% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €1.9m | €2.0m | €2.6m | €2.9m | €2.8m | €9.5m | €9.8m | ▲ 3.5% |
| Fixed assets21/28 | €1.9m | €1.9m | €2.3m | €2.8m | €2.8m | €9.2m | €9.2m | ▼ 0.8% |
| Tangible fixed assets22/27 | €1.9m | €1.9m | €1.9m | €1.8m | €1.8m | €1.7m | €1.6m | ▼ 4.1% |
| Land and buildings22 | - | - | - | €1.8m | €1.8m | €1.7m | €1.6m | ▼ 4.1% |
| Furniture and vehicles24 | - | - | - | €0.002m | €0.001m | €0.001m | €0.001m | = |
| Financial fixed assets28 | - | - | €0.5m | €1.0m | €1.0m | €7.5m | €7.5m | = |
| Current assets29/58 | €0.009m | €0.1m | €0.2m | €0.03m | €0.05m | €0.2m | €0.6m | ▲ 168% |
| Amounts receivable within one year40/41 | €200 | €0.08m | €0.09m | €0.02m | €0.02m | €0.2m | €0.6m | ▲ 166% |
| Trade receivables40 | - | - | - | €0.02m | €0.02m | €0.2m | €0.5m | ▲ 128% |
| Other amounts receivable41 | - | - | - | €322 | €0.004m | €0.03m | €0.2m | ▲ 452% |
| Cash at bank and in hand54/58 | €0.007m | €0.04m | €0.2m | €0.02m | €0.03m | €0.004m | €0.02m | ▲ 448% |
| Deferred charges and accrued income490/1 | - | - | - | €0.002m | €0.003m | €0.004m | €0.004m | ▲ 6.7% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €1.9m | €2.0m | €2.6m | €2.9m | €2.8m | €9.5m | €9.8m | ▲ 3.5% |
| Equity10/15 | €0.01m | €0.09m | €0.2m | €0.3m | €0.4m | €1.0m | €1.1m | ▲ 12.0% |
| Contributions10/11 | €0.2m | - | - | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Reserves13 | - | - | - | - | - | €0.6m | €0.8m | ▲ 33.3% |
| Distributable reserves133 | - | - | - | - | - | €0.6m | €0.8m | ▲ 33.3% |
| Profit (loss) carried forward14 | -€0.2m | -€0.2m | €0.01m | €0.08m | €0.1m | €0.2m | €0.09m | ▼ 47.1% |
| Provisions and deferred taxes16 | €0.7m | €0.7m | €0.7m | €0.7m | €0.7m | €7.2m | €7.2m | ▼ 0.2% |
| Provisions for liabilities and charges160/5 | - | - | - | €0.7m | €0.7m | €7.2m | €7.2m | ▼ 0.2% |
| Other liabilities and charges164/5 | - | - | - | €0.7m | €0.7m | €7.2m | €7.2m | ▼ 0.2% |
| Amounts payable17/49 | €1.2m | €1.2m | €1.6m | €1.8m | €1.7m | €1.2m | €1.5m | ▲ 19.1% |
| Amounts payable after more than one year17 | €1.1m | €1.1m | €1.1m | €1.6m | €1.4m | €1.0m | €1.4m | ▲ 32.5% |
| Financial debts170/4 | - | - | - | €0.9m | €0.7m | €1.0m | €1.4m | ▲ 32.5% |
| Other amounts payable178/9 | - | - | - | €0.7m | €0.7m | - | - | - |
| Amounts payable within one year42/48 | €0.09m | €0.1m | €0.6m | €0.1m | €0.2m | €0.2m | €0.07m | ▼ 58.7% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.06m | €0.07m | €0.07m | €0.07m | ▼ 3.5% |
| Trade debts44 | €0.003m | €0.01m | €0.07m | €0.02m | €0.008m | €0.004m | €0.004m | ▼ 15.7% |
| Suppliers440/4 | - | - | - | €0.02m | €0.008m | €0.004m | €0.004m | ▼ 15.7% |
| Taxes, remuneration and social security45 | - | - | - | €0.001m | €0.006m | €0.006m | €0.003m | ▼ 46.2% |
| Taxes450/3 | - | - | - | €0.001m | €0.006m | €0.006m | €0.003m | ▼ 46.2% |
| Other amounts payable47/48 | - | - | - | €0.06m | €0.1m | €0.1m | - | - |
| Accrued charges and deferred income492/3 | - | - | - | €0.1m | €0.1m | €0.003m | €0.003m | ▼ 15.6% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.05m | €0.08m | €0.2m | €0.08m | €0.1m | €0.6m | €0.1m | ▼ 80.6% |
| + Depreciation and write-downs630 | €0.06m | €0.06m | €0.07m | €0.09m | €0.08m | €0.08m | €0.08m | ▲ 0.1% |
| Operating cash flow (approximation) | €0.1m | €0.1m | €0.2m | €0.2m | €0.2m | €0.7m | €0.2m | ▼ 71.8% |
| Investment in fixed assets (approximation) | - | -€0.02m | -€0.5m | -€0.6m | -€0.01m | -€6.6m | -€0.008m | ▲ 99.9% |
| Change in cash | - | €0.03m | €0.1m | -€0.1m | €0.01m | -€0.02m | €0.02m | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Filings with the National Bank (10)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-07-2025 | full format | 22-03-2026 | 2026-00061000 | |
| 31-07-2024 | full format | 26-02-2025 | 2025-00040452 | |
| 31-07-2023 | full format | 07-03-2024 | 2024-00041804 | |
| 31-07-2022 | full format | 27-02-2023 | 2023-00033223 | |
| 31-07-2021 | full format | 25-02-2022 | 2022-06400378 | |
| 31-07-2020 | micro format | 16-03-2021 | 2021-07600503 | |
| 31-07-2019 | micro format | 28-02-2020 | 2020-06000314 | |
| 31-07-2018 | micro format | 21-03-2019 | 2019-07800226 | |
| 31-07-2017 | full format | 28-02-2018 | 2018-06100059 | |
| 31-07-2016 | full format | 02-03-2017 | 2017-05600297 |